Money Laundering

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/identity

Pismo turns to Sumsub for ID verification

Managing compliance risks can feel intimidating, especially because identity crime and fraud attempts jumped by 36% in 2021 relative to 2020, according to the Identity Theft Resource Center.

/crime

Themis closes Pre-Series A funding round at £3.1 million

Award-winning digital financial crime platform Themis announces today that it has successfully overfunded in its latest Pre-Series A funding round, raising a total of £3.1m.

US arrests crypto exchange founder

/crypto

US arrests crypto exchange founder

US authorities have charged the Russian founder of Hong Kong-based crypto exchange Bitzlato, which it says was used to launder hundreds of millions of dollars in criminal proceeds from the darknet.

/Money Laundering

Thirdfort bolsters c-suite

Thirdfort, a risk management platform combining Know Your Client (KYC), Anti-Money Laundering (AML) and Source-of-Funds (SoF) verification, has strengthened its leadership team with three c-suite appointments.

/people

Zimpler namess Jonathan Hjelmåker as head of operations

Zimpler, a leading fintech company born in Sweden appoints Jonathan Hjelmåker as Head of Operations and expands its ambition to deliver the best possible customer experience with an ambition to be best-in-class regarding combating financial crime.

/regulation

Detected closes £2.5 million financing round

London-based fintech Detected has secured £2.5m in its financing round fundraise, including investment from Thomson Reuters Ventures, Love Ventures and powerful industry angels.

/regulation

FCA penalises Al Rayan Bank for anti-money laundering failures

The FCA has fined Al Rayan Bank PLC (Al Rayan) £4,023,600 for failing to put in place adequate anti-money laundering (AML) controls.

/crime

Divilo selects ThetaRay to monitor criminal payments

Divilo, a Spain-based fintech providing B2B financial services, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced they will collaborate to protect Divilo’s growing services against money laundering, sanctions violations, and other financial crimes.

/regulation

FCA fines GT Bank £7.8 million for serious AML compliance failings

The Financial Conduct Authority (FCA) has fined Guaranty Trust Bank (UK) Limited (GT Bank) £7,671,800 for serious weaknesses in its anti-money laundering (AML) systems and controls between October 2014 and July 2019.

/crime

Mizuho Bank Luxemburg upgrades anti-financial crime compliance risk management with Napier

Mizuho Trust and Banking (Luxembourg) S.A , the Luxembourg subsidiary of Japan’s Mizuho Trust & Banking division (part of Mizuho Financial Group) , is upgrading its Transaction Monitoring framework strategy through a partnership with Napier, the financial crime compliance technology specialist.

Penta co-founder raises €3 million for Swiss banking startup

/startups

Penta co-founder raises €3 million for Swiss banking startup

Relio, a Swiss SME banking startup founded by Lav Odorovic, the co-founder of German digital bank Penta, has raised €3 million.

New York regulator hits Coinbase with $50m fine

/crypto

New York regulator hits Coinbase with $50m fine

Coinbase will pay a $50 million penalty and invest another $50 million in its compliance programme to settle a New York State regulatory investigation into its anti-money laundering practices.

/security

Bank of Africa signs for NetGuardians fraud prevention tech

Award-winning Swiss FinTech NetGuardians, renowned for its enterprise risk platform for combatting financial fraud, has announced that BANK OF AFRICA, a pan-African bank present in 31 countries worldwide, 20 of them being in Africa, will use NetGuardians’ fraud prevention software to further safeguard its assets and branches in Morocco against internal and payment fraud.

/crime

NZ regulator files AML breach proceedings against Tiger Brokers

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has filed civil High Court proceedings against Tiger Brokers (NZ) Limited for allegedly breaching the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 (the Act).

/cloud

NOW Money signs for ThetaRay AML tech

NOW Money, the GCC’s first mobile banking solution focused on financial inclusion, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced a collaboration to implement ThetaRay’s cloud-based AML solution to monitor cross-border payments and support in the prevention of financial crimes and money laundering on the fintech’s payments platform.

/crime

Danske Bank fined $2 billion for lax money laundering controls

Danske Bank has reached resolutions with the DoJ, the SEC and the Danish SCU following the investigations in relation to the non-resident portfolio at Danske Bank’s former Estonia branch.

/regulation

Facctum releases open API

Facctum, a risktech company specialising in cloud-delivered enterprise risk decisioning technology, announces today the launch of an open API for FacctView, its sanctions and anti-money laundering (AML) screening platform.

Santander UK fined £107.7m for repeated AML failures

/crime

Santander UK fined £107.7m for repeated AML failures

The FCA has fined Santander UK Plc £107,793,300 after it found gaps in its anti-money laundering controls, affecting its business banking customers.

/crime

Alpian selects Napier Continuum for financial crime compl

Alpian, Switzerland’s first digital private bank, and Napier, global provider of advanced financial crime compliance solutions, announce their partnership to implement a robust, end-to-end risk management platform for the bank.

/regulation

Hodge Bank selects LexisNexis Risk Solutions for customer onboarding and ongoing monitoring

Data and analytics firm, LexisNexis Risk Solutions, has been selected to provide Hodge with a full end-to-end solution for customer onboarding and ongoing monitoring, incorporating AML screening, transaction monitoring and case management, all within a single platform.

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